Fair Value Measurements

9 Months Ended

Apr. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 3—Fair Value Measurements

The following tables present the balance of assets and liabilities measured at fair value on a recurring basis:

	Level 1 (1)		Level 2 (2)		Level 3 (3)		Total
	(in thousands)
30-Apr-19
Assets:
Foreign exchange forward contracts	$	-	$	-	$	-	$	-
Liabilities:
Foreign exchange forward contracts	$	-	$	96	$	-	$	96
31-Jul-18
Assets:
Foreign exchange forward contracts	$	-	$	-	$	-	$	-
Liabilities:
Foreign exchange forward contracts	$	-	$	41	$	-	$	41

(1) – quoted prices in active markets for identical assets or liabilities

(2) – observable inputs other than quoted prices in active markets for identical assets and liabilities

(3) – no observable pricing inputs in the market

Fair Value of Other Financial Instruments

The Company’s other financial instruments at April 30, 2019 and July 31, 2018 included trade accounts receivable, trade accounts payable and due to IDT Corporation. The carrying amounts of the trade accounts receivable, trade accounts payable and due to IDT Corporation balances approximated fair value due to their short-term nature.